United States · Bill · HR
H.R. 3882 (109th)
Financial Safety and Equity Act of 2005
Introduced
22 September 2005
Last action
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Status
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Sponsors
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Subjects
Discovery layer
Source updated
15 August 2025
Summary
Financial Safety and Equity Act of 2005 - Amends the Bank Holding Company Act of 1956 regarding interests in nonbanking organizations to provide that any company that controls an industrial loan company, industrial bank, or similar institution shall become a financial holding company. Requires such entity to comply with all federal conditions, requirements, restrictions and limitations applicable to a financial holding company. Grants a five-year divestiture period for nonconforming activities to an entity that: (1) owned or controlled an industrial loan company, industrial bank, or similar institution on January 1, 2005; and (2) was not a bank holding company or a foreign bank on that date.
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Documents
3 official files
Introduced in House (text)
Introduced in House (text)
Introduced in House · EN · 22 September 2005
Introduced in House (PDF)
Introduced in House · EN · 22 September 2005
Introduced in House
summary · EN · 22 September 2005
Sponsors
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Sources
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- Official source: https://www.congress.gov/bill/109th-congress/house-bill/3882
- Open data entity: https://api.congress.gov/v3/bill/109/hr/3882